Short Ether Bets Swell as ProShares UltraShort Fund Draws Fresh Inflows
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The ProShares UltraShort Ether ETF, ETHD, registered a notable influx of capital on January 22, 2026, with investors adding $1,361,613 in new money. The leveraged inverse fund, designed to deliver twice the opposite daily performance of ether, now oversees $77,744,925 in assets under management (AUM), meaning the latest flow amounted to roughly 1.75% of its total size.
The scale of the single-day inflow is significant for a niche product, suggesting that a growing cohort of traders is seeking amplified downside exposure to ether prices or looking to hedge existing long positions. With nearly 2% of the ETF’s capital base turning over in one session, positioning in the short-ether trade appears to be gaining momentum even as broader crypto market volatility remains elevated.
The related asset, ETH-USD, is currently trading at $2,956.45, having shed about 24.65% over the past three months. The 90-day slide reflects mounting pressure on major altcoins as investors reassess valuations in a higher-for-longer rate environment and rotate toward more defensive or yield-bearing instruments.
Technically, ether’s near-term backdrop remains fragile: the 1‑day signal flashes a cautious Sell, aligning with the bearish sentiment implied by fresh money moving into ETHD. While short products like ETHD are typically used as tactical tools rather than long-term holdings, the latest flow suggests that a portion of the market is bracing for further downside or, at minimum, a choppy consolidation phase.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.